ESG评级、CEO开放性与企业绿色创新——来自重污染行业上市公司的经验证据  

ESG Rating,CEO Openness and Corporate Green Innovation--Empirical Evidence from Listed Companies in Heavily Polluting Industries

作　　者：梁雨晴 朱敏[1] 杜凤 LIANG Yuqing;ZHU Min;DU Feng(School of Economics and Management,Anhui Polytechnic University,Wuhu 241000,China)

机构地区：[1]安徽工程大学经济与管理学院,安徽芜湖241000

出　　处：《安徽工程大学学报》2025年第1期64-71,共8页Journal of Anhui Polytechnic University

基　　金：安徽省自然科学基金面上项目(2108085MG245)。

摘　　要：以2015-2022年我国重污染行业上市公司为研究样本,实证分析了ESG评级对重污染行业上市公司绿色创新的影响以及CEO开放性程度对上述关系的调节效应。研究结果表明:ESG评级能够显著提升重污染行业上市公司绿色创新水平,不管是对企业绿色专利申请量,还是绿色专利授权量都产生显著的正向影响;调节效应检验结果表明,CEO开放性程度在ESG评级与重污染行业上市公司绿色创新之间产生显著的正向调节效应;进一步分析结果表明,ESG评级更有利于促进东中部地区的重污染行业上市公司进行绿色创新。融合市场压力假说与利益相关者理论,拓展了企业绿色创新影响因素、ESG评级经济后果及CEO开放性的相关文献研究,为企业进一步强化与ESG评级、绿色创新相关的管理体系提供了基本框架指导。Based on the samples of listed companies in China's heavily polluting industries from 2015 to 2022,this paper empirically analyzes the impact of ESG ratings on the green innovation of listed companies in heavily polluting industries and the moderating effect of CEO openness on the above relationship.The results show that ESG rating can significantly improve the level of green innovation of listed companies in heavily polluting industries,and has a significant positive impact on the number of green patent applications and green patent authorizations.The results of the moderating effect test show that the degree of CEO openness has a significant positive moderating effect on the relationship between ESG rating and green innovation of listed companies in heavily polluting industries.Further analysis results show that ESG ratings are more conducive to promoting green innovation of listed companies in heavily polluting industries in the eastern and central regions.Integrating the market pressure hypothesis and stakeholder theory,this paper expands the literature research on the influencing factors of corporate green innovation,the economic consequences of ESG ratings and the openness of CEOs,and provides a basic framework for enterprises to further strengthen the management system related to ESG rating and green innovation.

关 键 词：ESG评级 绿色创新 CEO开放性 市场压力假说 利益相关者理论 

分 类 号：F276.6[经济管理—企业管理]